Goldman Sachs Group (GS) FY2016 results: revenue $30.8 billion, down 9.0% on the year
Goldman Sachs Group Inc. (GS) reported revenue of $30.8 billion for fiscal 2016, the year ended 31 December 2016, down 9.0% on the year before. Net income was $7.4 billion, up 21.6%, and diluted earnings per share $16.29. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2017.
Revenue
$30.8 billion
-9.0% on the year
FY2011FY2016
Operating margin
n/a
FY2011FY2016
Net income
$7.4 billion
+21.6% on the year
FY2011FY2016
Diluted EPS
$16.29
+34.2% on the year
FY2011FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
30,790
33,820
34,528
-9.0%
Interest expense
7,104
5,388
5,557
+31.8%
Pre-tax income
10,304
8,778
12,357
+17.4%
Income tax
2,906
2,695
3,880
+7.8%
Effective tax rate
28.2%
30.7%
31.4%
Net income
7,398
6,083
8,477
+21.6%
Net margin
24.0%
18.0%
24.6%
Diluted EPS
$16.29
$12.14
$17.07
+34.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
6,494
n/a
n/a
Capital expenditure
2,865
1,833
678
+56.3%
Free cash flow
3,629
n/a
n/a
Free cash flow margin
11.8%
n/a
n/a
Cash from investing
9,675
n/a
n/a
Cash from financing
12,103
n/a
n/a
Depreciation and amortisation
998
991
1,337
+0.7%
Share-based compensation
2,111
2,272
2,085
-7.1%
Buybacks
6,078
4,135
5,469
+47.0%
Dividends paid
1,706
1,681
1,454
+1.5%
Dividend per share
$2.60
$2.55
$2.25
+2.0%
Diluted shares, weighted
435m
459m
473m
-5.1%
Shares outstanding at period end
393m
419m
430m
-6.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
86,893
86,728
82,797
+0.2%
Deposits
124,098
97,519
83,008
+27.3%
Short-term borrowings
n/a
57,020
60,100
Debt
197,491
185,942
174,820
+6.2%
Other liabilities
451,683
434,186
455,515
+4.0%
Total liabilities and equity
860,165
861,395
856,240
-0.1%
Goodwill
3,666
3,657
3,645
+0.2%
Intangible assets
429
491
515
-12.6%
Securities held for sale or to maturity
176
n/a
n/a
Loans
49,672
45,407
28,938
+9.4%
Resale agreements
116,925
134,308
127,938
-12.9%
Securities borrowed
184,600
177,638
160,722
+3.9%
Cash and equivalents
121,711
93,439
75,025
+30.3%
Other assets
382,986
406,455
459,457
-5.8%
Total assets
860,165
861,395
856,240
-0.1%
10-K for the year ended 31 December 2016, filed 27 February 2017: the filing.